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Riverside Co. has acquired Spain-based Celvitae Biomedica, a private cord-blood bank. Riverside said it will combine Celvitae with Crioestaminal, a Portuguese company that focuses on cord-blood stem cell collection and banking. Riverside purchased Crioestaminal in 2009.

Related Summaries

Cord Blood America has announced that it will be rolling out a Quality Service Guarantee program that will give owners of stored umbilical cord-blood stem cells $50,000 in the event that the cells are used in a hematopoietic stem cell transplant and are not able to engraft. "The funds would defray the cost of procurement of an alternative stem cell source, if medically indicated," CEO Matthew L. Schissler said.

The Israeli Health Ministry has allotted funds to boost public cord-blood banking in the country. The move aims to increase collected cord-blood units to 1,000 annually. A health official also said the ministry is almost done forming regulations to oversee public and private cord-blood banks.

Australia's premier says the country's first public cord-blood bank should open by 2009, after announcing a $2.3 million grant for the project. The bank will be part of the country's national cord-blood registry and will be managed by the Australia Red Cross Blood Service.